Twenty-five contracts were signed last week at $4 million and above. The week also marked the end of the 2nd quarter, and with it, an interesting stat: 343 contracts were signed in the 2nd quarter, down from 402 last year. This was the lowest 2nd-quarter volume since 2012. At the same time, the average number of days on the market increased from 221 to 274 and negotiability from the original asking price increased from 4% to 7%.
All that being said, the average price increased by 6% over the same quarter last year, from $7,722,122 to $8,204,352. It looks like the loftier prices equal fewer deals.
The top two contracts last week were duplex penthouse condos. The No. 1 slot went to PH31 at 400 East 67th Street, asking $16.95 million, reduced from $21 million when it went on the market in July 2014. The apartment has 4,073 square feet including 3 bedrooms, 4.5 bathrooms, and 2 landscaped terraces totaling approximately 3,000 square feet. It also features a 53-foot great room that opens onto a 59-foot terrace. Upstairs is a rooftop terrace planted with a grass lawn and trees, an outdoor kitchen and fireplace. The unit last sold in 2011 for $11,226,206.
The No. 2 contract was PHG at 141 East 88th Street, asking $16 million. The unit has 4,710 square feet including 4 bedrooms, 6 bathrooms, and a 1,211-square-foot terrace. Amenities in this prewar building include a doorman, gym, and a playroom.
CLICK HERE TO VIEW 24 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES